River Valley hotel plot offers CapLand-CDL integration potential with Liang Court
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Kalpana Rashiwala
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THE appearance of a site in River Valley Road for a hotel development to be integrated with the Fort Canning MRT Station, in the second-half 2019 Government Land Sales Programme, comes at an oppportune time for CapitaLand and City Developments Ltd (CDL).
The pair recently gained full control of the ageing Liang Court complex next door, after an equal joint venture that they had set up completed a S$400 million acquisition of Liang Court mall from an entity linked to PGIM Real Estate.
There are two other components in the Liang Court mixed-development complex: Somerset Liang Court Singapore serviced residence, which is owned by CapitaLand's listed unit Ascott Residence Trust; and the Novotel Singapore Clarke Quay hotel, owned by CDL's indirect subsidiary CDL Hospitality Trusts (CDLHT).
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